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Automotive News Headlines - Yahoo! News

Automotive News Headlines - Yahoo! News
  • Factbox - Business reaction to Britain's decision to leave the EU
    Britain's vote to leave the European Union means uncertainty for markets and companies as London initiates at least two years of negotiations with the EU. Following are reactions from business leaders: -- EUROPEAN AND WORLD TRADE -- ANTON BOERNER, HEAD OF GERMANY'S FOREIGN TRADE ASSOCIATION "That is a catastrophic result for Britain and also for Europe and Germany, especially the German economy. It is disturbing that the oldest democracy in the world turns its back on us." MARKUS KERBER, PRESIDENT OF THE BDI GERMAN INDUSTRY FEDERATION “We expect a significant drop in trade with Britain in the coming months.” He said the automotive, energy, telecoms, electronics, metal, retail and financial services sectors would be particularly affected.

  • U.S. auto sales may not set new high in 2016 after all: forecasters

    Automobiles are shown for sale at a car dealership in Carlsbad, CaliforniaBy Bernie Woodall DETROIT (Reuters) - U.S. auto sales will grow nearly 5 percent in June compared to a year earlier, but it looks as if 2016 may not break the annual sales mark reached last year, J.D. Power and LMC Automotive said on Friday. "Risks continue to mount for the second half of 2016," said Jeff Schuster, senior vice president of forecasting at LMC Automotive. Last year's sales figure is from industry consultant Autodata Corp. J.D. Power and LMC said total U.S. light vehicle sales for June would be 1.55 million, up nearly 5 percent from last June.

  • CarMax turns to online financing as used-car sales hit a bump

    The sign of a CarMax dealership is pictured in DuarteCarMax Inc , the biggest U.S. used-car dealer, is banking on a new online financing process to help offset sluggish demand as cheaper gas prices and a stronger job market drive sales of new cars. "Many customers want to understand their financing options during their online research process, prior to coming into the store," CarMax Chief Marketing Officer Jim Lyski told Reuters. Richmond, Virginia-based CarMax reported on Tuesday lower-than-expected first-quarter revenue and profit as store traffic dropped and comparable unit sales at its used-car stores slowed to a near halt.

  • 'Star Trek' actor's death prompts new calls for auto recall fix

    Cast member Yelchin poses during the photo call for the movie "Burying the ex" at the 71st Venice Film FestivalBy David Shepardson WASHINGTON (Reuters) - "Star Trek" actor Anton Yelchin's fatal accident involving a recalled 2015 Jeep Grand Cherokee is renewing calls from safety advocates to fix flaws in the U.S. recall system. Clarence Ditlow, executive director of the Center for Auto Safety, said Yelchin's accident is touching a nerve in a way that traditional recalls have not. "Many consumers may think: 'If it could happen to Chekov, it could happen to me,'" he said, referring to the Star Trek character portrayed by Yelchin.

  • Exclusive: Apax Partners launches auction to sell Trader Corp - sources
    Private equity firm Apax Partners LLP is exploring a sale of Trader Corp which could value the Canadian provider of advertising for automotive dealers at more than $1.5 billion, including debt, according to people familiar with the matter. Apax is working with investment banks that include Goldman Sachs Group Inc on a sale process for Trader, the people said on Thursday. Trader will pursue an initial public offering if the acquisition offers it receives do not meet Apax's valuation expectations, one of the people added.

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